You may be wondering, “Why hire a property management company?” The number of property owners keeps rising in the state of Colorado. Are you one of the many lucky property owners in the area of El Paso County, Colorado? If you own a property of any kind, you may have been considering the benefits of working with a local property management company. Even if you live in the area, there are many reasons why partnering with a property management company is a good choice.
Tenant management and maintenance
Property management on your own can be a time-consuming and sometimes stressful endeavor. You are likely managing daily tasks such as maintenance requests, tenant inquiries, rent collection, and more. You might even be spending your free time working on basic property maintenance issues, trying to rent out empty spaces, or chasing down rent payments.
Why hire a property management company? A property manager can manage tenant screening, leasing, and evictions if necessary. They can ensure responsible tenants are selected and handle the rent collection. They would be the ones dealing with late payments and pursuing evictions when needed to relieve you of those stressful tasks.
In addition, many property managers have maintenance people on hand to oversee the regular maintenance that needs to be done on your property to preserve its value and keep tenants satisfied. This also means they can manage those late night emergencies that might arise.
All these things alone might answer your question, “Why hire a property management company?” But a top-notch property management company like Citadel Realty, LLC, can also provide a wealth of other benefits.
Additional benefits to hiring a local property management company
1) Legal Compliance: Property laws and regulations can be complex. Property managers are knowledgeable about local and state laws surrounding property management. In addition, there may be community regulations or HOAs that also have compliance rules that your tenants need to follow. A local property manager will know the areas and can ensure the property remains compliant, reducing the risk of legal issues.
2) Marketing and Vacancies: Your property manager is better equipped to advertise vacancies. They are also more available to show properties to potential tenants and handle lease agreements. They can also provide easy online applications and rental payment portals that provide regular reminders to tenants, making filling a vacancy and keeping tenants much easier. This frees up your time and ensures a consistent rental income.
3) Network of Professionals: In particular, a local property manager will have solid connections with contractors, maintenance workers, and other professionals. This ensures issues will be addressed promptly. They can also often get better rates due to their ongoing relationships, making it easier on you and your bottom line.
4) Financial Management: Your property manager will handle most of the financial management for your property, such as budgeting, financial reporting, and keeping track of expenses, providing you with clear financial insights. You should receive regular reports that will help you with your bookkeeping and your taxes.
5) Tenant Relations: Screening and placing tenants is only part of the job. Think about all the calls you get from your tenants on complaints, compliance issues, or maintenance and repairs. Managing all the mundane questions, requests, and issues can become a real hassle. Fear not! A property management company will handle all those calls for you in a timely manner. And if needed, deal with those not-so-fun eviction situations. And they will do everything professionally and legally. A win for you and a win for your tenants!
Why hire a property management company?
Ultimately, you typed in “Why hire a property management company?” because you wanted to find a solution. Maybe you want to spend more time with your family. Perhaps you want to enjoy a new hobby. You may already have a full-time job and handling the management of your property yourself is causing too much stress. You deserve a break.
With over 20 years of experience in the El Paso County area, the Citadel Realty, LLC team wants to give you peace of mind. As a property owner, you can rest assured that your property is being managed efficiently and professionally. Partnering with the owner, Melanie Weseman, and her highly-rated team will help you focus on other aspects of your life and your other investments. Isn’t that worth it?
Check out Palladium Power’s 5-star review of Citadel Realty, LLC
“I’ve dealt with Citadel Reality for almost three years now, renting and look forward to purchasing a home through them as well. Melanie and Jeremy are pleasant to work with, and I’ve never had an issue with them. They’re always prompt with any issues that I may have and handle it with understanding and prompt action. When I first started with Citadel, I had bad credit, and they took a chance on me when nobody else would. I would 100% recommend working with Citadel.”
Citadel Realty, LLC provides top-notch services for residential, land, income properties, bank owned properties, and relocation in the El Paso County area. We pride ourselves on providing the best customer service with honesty, integrity, and respect. Contact us to get the best property management services in Colorado Springs, Monument, Fountain, Falcon, Manitou Springs, and other cities in El Paso County. With decades of experience in real estate and property management, you can rest assured that your property is under professional care. Give us a call at 719-266-6003.